John McCain Sounds Like Hubert Hoover

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Active Member

"I think still -- the fundamentals of our economy are strong." - John McCain(this past week)

"The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis." - Hubert Hoover(the day after Black Thursday in 1929)

"For Hoover as for McCain, the insistence on "sound fundamentals" means that if necessary, the government will throw a life preserver to business leaders; the rest of us are on our own. Franklin Roosevelt knew how to answer: "The present administration has either forgotten or it does not want to remember the infantry of our economic army. These unhappy times call for ... plans ... that build from the bottom up and not from the top down, that put their faith once more in the forgotten man at the bottom of the pyramid." He echoed his cousin/uncle Theodore, who declared, "We must protect the crushable elements at the base of our present industrial structure." In an economic crisis, these ideas are the true, and sound, American fundamentals."

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New Member

The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis." - Hubert Hoover

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I believe you mean Herbert Hoover, our 31st president.

Anyway, since Obama is on the Senate Banking Committee ["Just this past week, we passed out of the U.S. Senate Banking Committee, which is my committee..." - Sen Obama] he will know what to do about our current financial troubles.

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New Member

Not sure I have too much sympathy for the millions - some might be in their mess by total accident but anyone with common sense would have run from those loans like millions of others did.

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Some of us who were not impacted by the mortgage debacle are also impacted by this "fundamentally sound" economy. The cost of lights, water, heat, fuel in the tank and even milk is so that most have to make a choice between eating, freezing or walking. Maybe consumers are still buying where you are but we had two malls recently close in this area and many of the name brand stores have been abandoned. Walmart is the only surviver in these parts.

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Yes, our food bill has gone up considerably and we don't do much milk but in the many years I've been around prices always go up and wages linger for most of us - kind of the way of things thus why some feel things are about normal. After all you can't have socialism if everybody is getting rich. :tear:

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"I think still -- the fundamentals of our economy are strong." - John McCain(this past week)

"The fundamental business of the country, that is the production and distribution of commodities, is on a sound and prosperous basis." - Hubert Hoover(the day after Black Thursday in 1929)

"For Hoover as for McCain, the insistence on "sound fundamentals" means that if necessary, the government will throw a life preserver to business leaders; the rest of us are on our own. Franklin Roosevelt knew how to answer: "The present administration has either forgotten or it does not want to remember the infantry of our economic army. These unhappy times call for ... plans ... that build from the bottom up and not from the top down, that put their faith once more in the forgotten man at the bottom of the pyramid." He echoed his cousin/uncle Theodore, who declared, "We must protect the crushable elements at the base of our present industrial structure." In an economic crisis, these ideas are the true, and sound, American fundamentals."

Click to expand...

Again, as my students find out in the 10th grade, the Depression had several roots--one of them being that the government did NOT do what our government is doing, but the killer that really caused the total collapse was the Smoot-Hawley Tariff Act, which, instead of "bringing our jobs home," killed the globalizing economy. From there, Hitler achieved power in Germany, we had WW 2, The Cold War, etc.

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